3M to Acquire Neoplast Co. Ltd.

3M announced today it has entered into a definitive agreement to acquire Neoplast Co. Ltd., a manufacturer/distributor of surgical tapes and dressings and first aid bandages for both the professional and consumer markets across the Asia Pacific region. Terms of the transaction were not disclosed. "This acquisition expands our global manufacturing capabilities and allows us to better address emerging needs in this market,” said Chuck Kummeth, division vice president, 3M Medical Division. "Neoplast complements 3M’s well-known line of skin and wound care products and broadens our offering in Southeast Asia,” added Paul Acito, managing director, 3M Thailand. Neoplast exports account for the majority of its sales serving clients in the field of wound-care. "The combination of 3M and Neoplast will help to expand the business beyond the current customer base,” said Sawat Donsagul, managing director, Neoplast Company Ltd. Complementary acquisitions such as this support 3M’s core business. 3M's extensive line of trusted products is intended to simplify and improve skin health and the treatment of wounds, both acute and chronic. These products provide cost-effective solutions and are supported by educational services, professional and technical support, as well as ongoing research and development. Neoplast employs approximately 700 people. The transaction is expected to close in the third quarter, subject to customary closing conditions. About Neoplast Co. Ltd. Neoplast Co., Ltd., a Thai owned company, was established in November 1988. Neoplast manufactures and distributes 5,000 items for domestic and export markets including first aid bandages, medical tapes, hydrogel plaster and tapes for the sport market. Neoplast Co., Ltd is certified for GMP from the Thai Ministry of Public Health and TGA from Australia , ISO9001:2000, ISO13485:2003, and Directive 93/42/EEC Annex V (CEMark). About 3M - A Global, Diversified Technology Company Every day, 3M people find new ways to make amazing things happen. Wherever they are, whatever they do, the company’s customers know they can rely on 3M to help make their lives better. 3M's brands include Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti. Serving customers around the world, the people of 3M use their expertise, technologies and global strength to lead in major markets including consumer and office; display and graphics; electronics and telecommunications; safety, security and protection services; health care; industrial and transportation. Scotch, Post-it, Scotchgard, Thinsulate, Scotch-Brite, Filtrete, Command and Vikuiti are trademarks of 3M.